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Revvity, formerly known as PerkinElmer, is a leading provider of health science solutions, technologies, expertise, and services that deliver complete workflows from discovery to development, and diagnosis to cure . The company operates through two main segments: Life Sciences and Diagnostics, offering a range of products including instruments, reagents, software, and services . Revvity's revenue is nearly evenly split between these segments, with a significant portion being recurring in nature .
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Life Sciences Segment - Provides products and services targeted towards life sciences customers, focusing on preclinical research and development. Includes sales of instruments, reagents, software, subscriptions, detection and imaging technologies, extended warranties, training, and services .
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Diagnostics Segment - Develops diagnostics, tools, and applications focused on clinically-oriented customers, particularly in reproductive health, emerging market diagnostics, and applied genomics. Generates revenue from instruments, solutions, consumables, reagents, and services, with significant growth driven by immunodiagnostics and reproductive health businesses .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Prahlad Singh ExecutiveBoard | President and Chief Executive Officer | None | Joined RVTY in May 2014; became CEO in December 2019. Transformed RVTY's portfolio and achieved strong financial results. | View Report → |
Anita Gonzales Executive | Vice President and Controller | None | Joined RVTY in March 2021. Promoted to Controller in May 2023. Extensive experience in accounting and auditing from GE and PwC. | |
Daniel R. Tereau Executive | Senior Vice President, Strategy and Business Development | None | Joined RVTY in April 2014. Leads strategy and business development. Previously held leadership roles at Novartis and Thermo Fisher. | |
Joel S. Goldberg Executive | Senior Vice President, Administration, General Counsel, and Secretary | None | Joined RVTY in July 2008. Oversees legal, compliance, and administrative functions. Expertise in M&A and corporate governance. | |
Maxwell Krakowiak Executive | Senior Vice President and Chief Financial Officer | None | Joined RVTY in October 2018; became CFO in August 2022. Led global finance transformation and financial planning. | |
Miriame Victor Executive | Senior Vice President and Chief Commercial Officer | None | Joined RVTY in October 2014. Consolidated commercial operations and led product commercialization efforts. | |
Tajinder Vohra Executive | Senior Vice President, Global Operations | None | Joined RVTY in October 2015. Oversees global operations, including manufacturing and supply chain. Expertise in lean manufacturing. | |
Alexis P. Michas Board | Non-Executive Chairman of the Board | Managing Partner at Juniper Investment Company; Chairman at BorgWarner; Board Member at AstroNova, Theragenics, and Athens College. | Director since 2001; became Non-Executive Chairman in December 2019. Extensive private equity and corporate governance expertise. |
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Given that your Life Sciences Instrumentation business is expected to decline mid-single digits in Q4 and Applied Genomics is projected to be flat, what specific steps are you taking to address these challenges and return these segments to growth?
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Your reagents business grew mid-single digits while peers in the RUO antibodies market are still down; can you elaborate on what's driving your better-than-peer performance in reagents and how sustainable is this outperformance considering both biopharma and academic customers were down low single digits?
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With the majority of your reagents focused on the preclinical side and considering ongoing pipeline rationalizations and cuts from large pharma, how exposed are you to potential reductions in preclinical R&D spending, and what strategies are you implementing to mitigate this risk?
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You mentioned that instrument normalization is not happening as quickly as anticipated and recovery is slower; given these challenges, how confident are you in your forecast for similar reagent volumes in Q4, and what indicators support your outlook for market stabilization or recovery?
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Despite peers flagging incremental headwinds in China immunodiagnostics, you've reported mid-single-digit growth and noted that your business is different; can you explain what differentiates your immunodiagnostics business in China and how you plan to sustain growth amid potential market headwinds?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Unnamed Business 1 | 2022 | Completed in Q1 FY 2022, this acquisition was part of a combined deal with another business for an aggregate purchase price of $13.5 million; it brought in core technology with a 5-year average amortization period and recorded contingent consideration obligations of $49.8 million with a potential of up to $111.3 million. |
Unnamed Business 2 | 2022 | Completed in Q1 FY 2022, this acquisition was executed alongside Unnamed Business 1 as part of the $13.5 million total deal; it included acquiring intangible assets such as core technology with a 5-year amortization period and had contingent consideration obligations of $48.6 million, with a maximum potential payment of $106.6 million. |
Recent press releases and 8-K filings for RVTY.
- Tariff mitigation efforts were a key focus, with executives outlining a $135M gross headwind and a net impact of approximately $0.12 EPS in Q2 through supply chain and operational actions.
- Executives emphasized cost management and supply chain resiliency, expecting normalized margin performance in 2026 as temporary measures are implemented in 2025.
- The call highlighted robust integration synergies with BioLegend and strong performance in the software segment, underscoring long-term growth opportunities.
- Revvity Inc delivered $665M in revenue in Q1 2025, up 2% y/y, and raised full-year guidance to $2.83-$2.87B, reaffirming targets for organic growth (3-5%) and adjusted EPS ($4.90-$5.00) .
- Reported adjusted EPS of $1.01 and GAAP EPS of $0.35, exceeding expectations in a volatile macro environment .
- Achieved a 10.9% GAAP operating margin and 25.6% adjusted operating margin on $72M operating income, underscoring effective cost management .
- Organic growth reached 4%, driven by strong performance in the Diagnostics & Software segments, bolstered by an expanded NGS partnership with Genomics England and FDA approval for an automated latent TB workflow .
- Demonstrated robust cash flow management with a $154M share repurchase reducing outstanding shares by 6% over two years, alongside generating $118M in free cash flow with a 97% conversion rate .
- Proactive supply chain and tariff mitigation efforts are expected to limit the tariff headwind to about 60 basis points on adjusted operating margins despite a potential $135M gross impact .
- Business Transformation: Revvity has undergone a major transformation in the past 7 years with approximately 70% of its revenue coming from newer businesses. The company now generates around $3 billion in revenue, split roughly evenly between Life Sciences and Diagnostics, with over 80% being recurring revenue from consumables, software, and services.
- Software Growth: The company’s software segment, branded as Signals, delivered about $200 million in revenue (approximately 8% of total revenue) with double-digit growth, including 13% growth last year and a low double-digit (around 10%) outlook for the current year. Net retention for this segment was around 106%.
- Antibody Business Expansion: Following the acquisition of BioLegend about 3.5 years ago, Revvity’s antibody business now represents over half of its $725 million reagent portfolio, driven by continuous product innovation and high service standards.
- Diagnostics & Newborn Screening Focus: The Diagnostics business features a $500 million reproductive health portfolio that heavily emphasizes newborn screening. This includes offering end-to-end workflow solutions—from instrumentation to diagnostic assays—and expanding testing menus to drive growth amid declining global birth rates.
- Portfolio transformation progress: Revvity has shifted its business mix to about 80% recurring revenues with significant exposure to consumables, software, and services, positioning the company with a diversified and resilient portfolio.
- Limited exposure to NIH and academic cuts: The company’s revenue from direct NIH exposure is about 1% and from academia/government totals near 5%, mitigating broader market uncertainties.
- Operational strengths in reagents and instrumentation: Revvity highlighted its superior performance in reagents with BioLegend’s efficient cost management and emphasized innovative high-content screening and imaging platforms that drive productivity improvements for researchers.
- Growth in diagnostics and reproductive health: Ongoing initiatives include expanding the diagnostics menu through FDA approvals in the EUROIMMUN portfolio and a long-term push to grow newborn screening in reproductive health markets globally.